Topic > Milton Friedman and social responsibility - 1401

Milton Friedman is known in the business world for his lack of patience, he believes that companies are not really concerned with making profits but also promote social conscience and the need to take care of employees, abolishing discrimination and pollution (Friedman, 1970, p. 3). In this article Friedman states that the social responsibility of any company is to increase profits year after year (Friedman, 1970). Friedman believes that if you gave your employees the right to exercise their social responsibility, it would make an employee accountable for their actions and ideas. The idea behind this theory is that it will make it very difficult for anyone to try to take advantage of colleagues to advance in the company (Friedman, 1970, p. 3). The belief behind the word social responsibility is that companies have a greater commitment than just making money. Social responsibility also means that companies should commit not only to shareholders but also to consumers and that companies should go beyond what is required by law. Friedman believes that social responsibility will help businesses take a different approach before getting involved in legal action and will help businesses handle the situation in a timely manner (Friedman, 1970, p. 3). When looking at social responsibility, Friedman states that it involves socialist views and that market mechanisms are not what society looks at but are political mechanisms (Friedman, 1970, p. 2). Basically what Friedman is saying is that when government engages in social responsibility it wastes so much time and money and the process is too long to get anything done. Friedman says it would be much easier if companies could step in and solve their own problems... middle of paper...cker, Murphy and Friedman questioned the legitimacy of linking anamorphic characteristics, such as judgment and moral and social duties , to an intrinsic body. This is not to say that they promoted unethical behavior on the part of the company's employees or owners. Rather, they offered an additional and more rational way to supervise their behaviors; they did so through laws and the use of professional codes of conduct (Murphy, 2009). Business ethics involves the concept of social responsibility through ideas that remain divergent. The moral analysis of business practices and activities boils down to business ethics because in business ethics, businesses consider their own actions and decisions, as well as take moral principles and values ​​into consideration, while at the same time asking whether ethical motivations in business actions they could make companies more responsible and ethical. , or any other success.